Google’s Bard AI chatbot screws up costing investors $100 billion in market value
Google’s conversational AI chatbot Bard flubs an answer and $100 billion in value comes off the stock
Bard is an experimental conversational AI service, powered by LaMDA. Built using our large language models and drawing on information from the web, it’s a launchpad for curiosity and can help simplify complex topics → https://t.co/fSp531xKy3pic.twitter.com/JecHXVmt8l
— Google (@Google) February 6, 2023
Highlighted area shows Bard’s incorrect answer
Gil Luria, senior software analyst at D.A. Davidson, told clients, “While Google has been a leader in AI innovation over the last several years, they seemed to have fallen asleep on implementing this technology into their search product. Google has been scrambling over the last few weeks to catch up on Search and that caused the announcement yesterday (Tuesday) to be rushed and the embarrassing mess up of posting a wrong answer during their demo.”
Microsoft is positioned to make a fortune with the AI-powered Bing
Microsoft is investing billions of dollars in ChatGPT parent OpenAI giving the company a chance to be extremely relevant in the online search space where it currently owns a market share of only 9%. Each percentage point rise in the company’s market share will mean $2 billion of additional advertising revenue for Microsoft. By the way, Microsoft’s shares could not hold on to early gains on Wednesday and closed down 83 cents (or .31%) to $266.73. Earlier in the day the stock hit a high of $276.76.
AI chatbots do have a habit of using incorrect data to form inaccurate answers which are known as hallucinations. No, this doesn’t mean that ChatGPT or Bard have been using magic mushrooms or other illicit substances. It is just the nature of the beast although in this case, it doesn’t seem that Bard had a hallucination. To fight back against these inaccurate responses, AI platforms need plenty of user feedback.